The Internet of Things (IoT) is no longer just a buzzword – it’s a living, breathing technology that’s making a splash in retail stores around the world. By 2020, it’s estimated that there will be over 30 billion IoT devices! IoT offers great benefits to the retail industry. In fact, 77% of retailers believe it improves the customer experience, 89% report that it provides increased insights into customer preferences, and 77% say that it helps them work with partners to deliver quality products and services. How will IoT devices impact stores’ bottom lines? By reducing inventory error, optimizing supply chain management, and decreasing labor costs, it’s estimated that the potential economic impact of IoT in retail environments will range from $410 billion to $1.2 trillion per year by 2025!READ MORE

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